Navy Taps Hines for Pax River EUL
- February 17, 2012
The Navy this week selected Hines Interests L.P. to develop office space at Naval Air Station Patuxent River in southern Maryland through the enhanced use leasing (EUL) program.
The two parties now will try to reach agreement on a business and leasing plan for the project, which covers multiple sites on the installation. The development team of Houston-based Hines includes AECOM, the Whiting-Turner Contracting Co. and The PMC Group.
Hines, a global real estate firm, has proposed to develop offices and related facilities on one or more sites selected by the Navy within the base perimeter. The project will involve a long-term government lease of the land and improvements to Hines, with the developer planning, designing, financing, constructing and operating the new facilities. In return, the naval station will receive fair market consideration for the leasehold.